The Property Doctor property investing

40 Property

By Chris Ennis FRICS Property investment

Over the years I have been involved with numerous refurbishment projects throughout Sussex. Clients maybe looking to create an investment package, some are looking to buy for their own occupation, whilst others are endeavouring to resell on completion and make a profit. The rules are invariably the same whichever path is taken. There is no certainty of success, and the problems can be daunting, but on occasions the rewards may become compensation. Finding a property with potential for improvement and profit may not be easy. There are occasions when property with ‘potential’ does not come to the open market. A prospective purchaser should keep an eye on the press, and research values through the internet. Look for a property where there is some latent value that can be unlocked eg. scope for an extension, conversion to flats, rooms in the roof voids. Examine properties for sale by auction.

Estimate the likely realistic value of the refurbished property. Endeavour to estimate all refurbishment costs including materials, labour, rubbish disposal, purchase / sale, legal costs/planning charges, stamp duty, finance and sales agent’s cost all including VAT.

Then add a sum (10%?) for contingencies. With these figures a theoretical surplus (profit) can be estimated, and this may then attract the tax man’s attention. In some instances, the purchase of a second property may attract additional stamp duty above the ‘normal’ rates. The investor is looking to better the very low interest rates currently available through banks and building societies. By buying a property, preparing it to be suitable for rental and installing tenants yield rates can be improved substantially. Don’t underestimate the aggravation of managing the property on a day to day basis or the cost of employing an agent to undertake this task. Whilst most tenancies are relatively trouble free; you periodically hear horror stories of rogue tenant behaviour. Over the years property values have increased but there have been periods of decline in values Over the last several months values have fluctuated but have not increased significantly. What may happen when the uncertainty of Brexit is finally resolved? Chris Ennis FRICS Chartered Surveyor 01903 261 217 surveyor1@talktalk.net or www.propdoctor.co.uk

through the door

Promotional Feature - Property 41

Beat energy price rises! Bright Spark Energy help local residents save on their electricity bills By Mark Stevenson

Bright Spark Energy were asked to design and install a system that not only reduced the property’s electricity usage during the day but also stored excess solar energy generated for the evenings. The client’s main focus was to generate their own electricity in order to reduce rising electricity costs and the impact on the environment.

A new slate roof was being installed by the main contractor so we liaised with the project team to install an “In-roof” kit. This kit looks great with slate roofs and minimises the visual impact of the solar panels.

The installation was completed using JA Solar All Black Solar Panels. We also specified a hybrid Solis Inverter and Battery System.

We have also installed an Electric Vehicle Charging point at the property.

The Solar PV and Battery Storage system is designed to not only provide all of the power during the day but also to charge up the batteries and provide clean, green, free energy at night time.

The Solar PV System is estimated to generate approximately 5022.08 kWh a year resulting in a saving of £753.31 per annum as well as reducing their carbon footprint significantly by 2321.16 K/g of CO2 per annum.

If you can plug it in or switch it on we can help you. Our services include Solar PV, Battery Storage, Inverter Replacement, Car Charging, Solar Carports, Electrical Works and other services.

t: 01903 443321

e: info@brightspark.energy

w. www.brightspark.energy

Above: The In-roof kit being installed onto the roof. Above right: The completed roof.

42 Health & Wellbeing / Competition

Open wide... There’s no need to be scared of the dentist says Arvin Mirzadeh from Vitality Dental How many of you reading this can truly claim not to mind a trip to the dentist? I can bet my bottom dollar that it won’t be many. Over the last two decades or so, dentists have worked hard to reassure anxious patients who have had a bad experience at a school dentist in the 1960s or perhaps even a heavy-handed colleague filling every tooth with metal in the 1980s. Every dental practice you visit will now advertise gentle, pain-free dentistry. And thank goodness they do. From where I sit, on the front line, I see the problem is still immense. Patients continue to stay away in their droves, and each week at Vitality we must see at least one new patient who has not been to the dentist for a decade or more. These patients have often experienced pain, or a deterioration in the appearance of their teeth, but have still been reluctant to take that first step. They come terrified, sometimes unable to tolerate even an examination, and it is so unfair that they have been dealt this blow by a member of my profession often decades ago. Over the years, a lot of effort has gone into the education of the public and dental professionals now go out of their way to comprehensively inform patients of all their options as opposed to telling patients what they need. We find that a lot of patients take an interest in the appearance of their teeth, and also increasingly the health and quality of facial skin. Many patients now understand the benefits of non-invasive treatments such as teeth whitening, while others are getting increasingly savvy with occasional use of preventive anti-wrinkle treatments. Gone are the days of discoloured teeth being drilled down and covered with crowns or veneers; nowadays we treat most cases with whitening and bonding, where teeth are lightened gently at home and then minimally treated with adhesive fillings to achieve symmetry. Visit www.vitality-dental.com where you can read about other patients’ experiences and book online. 32 Lower St. Pulborough, RH20 2BL 01798 872004

Arvin and the Vitality team

Win! Teeth Whitening Professional whitening treatment plus runner up prize of an Oral-B Pro 2000 electric toothbrush Until 24th December 2019 Vitality are offering half price new patient consultations to all readers of Sussex Local magazine –please mention when you book!

Having white teeth is not just for celebrities and catalogue models. Aside from looking great, having whiter teeth can really give your confidence a boost. Significant lightening can be achieved with a non-invasive home treatment under the careful supervision of a professional dentist. Enter our competition to be in with a chance of winning teeth whitening worth £480 with Vitality Dental of Pulborough.

Win professional teeth whitening or an Electric toothbrush

To enter the competition answer the question below: Q: Where are Vitality Dental based? a) Chichester b) Horsham c) Pulborough

Send your answer and contact details to: Vitality Dental Competition, PO Box 2237, Pulborough, RH20 9AH or enter online at www.sussexlocal.net/ features/competitions Winners drawn after 30th November 2019. Please indicate if you wish to remain on our mailing list.

through the door

Health & Wellbeing

43